BB removes NRB CB MD

Bangladesh Bank has removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman for misconduct and violating the rules, reports UNB.
The central bank's decision was conveyed to the NRB Commercial Bank MD on Wednesday through a letter from its governor Fazle Kabir.
As per the BB decision, Dewan Mujibur will not be able to serve any bank in the next two years, said spokesman and executive director of Bangladesh Bank Subhankar Saha. "Now, Dewan Mujibur can't get involved in any activity of the management of NRB Commercial Bank or any other bank," he told UNB.
The Bangladesh Bank served the letter after it had found evidence against Dewan Mujibur of irregularities and violation of the banking law.Earlier, the central bank served a show-cause notice on him over 10 irregularities and violation of the banking law in issuingloans of Tk 701 crore which the central bank believes went against the interests of the bank's depositors.
Challenging the notice, the NRBCB managing director went to the court, but he failed to obtain any order in his favour.